Columbus Day is Fake NewsOctober 12, 2020
We wanted to continue the conversation from the podcast last Friday. Team Group Chat did some research on the practice of having celebrities on a corporate board of directors. It turns out that it’s not all that common and there is only a select few who manage to still sit on a board today. Although we’ve seen the likes of Magic Johnson, Al Gore, Martha Stuart and many other famous board members in the past, it seems to be a dying practice.
Here is a list of high profile board members that either are no longer on the board or the company doesn’t exist anymore:
Deepak Chopra – Mens Warehouse
Al Gore – Apple
Magic Johnson – Square
Colin Powell – AOL
Dick Cheney – Haliburton
Nancy Raegan – Revlon
Martha Stewart – Drugstore.com
Check out the celebrities that are still on boards today:
As announced the other day Michael Jordan is now on the board of directors for Draft Kings. Jordan used to also serve on the board of Oakley but quit back in 2002. However it turns out he never served on the board on Nike and may have never been asked to join once in the history of their partnership. ￼
Big Diesel snagged Papa’s old seat on the Papa John’s board last year. He owns a number of franchises here in Atlanta and also receives a few million a year in endorsements from them. Shaq was criticized earlier this year when he missed a Papa John’s board meeting but still remains on the board of directors today. ￼
Leave it to Serena to not only be on one board of directors, but she is actually currently on the board of both Poshmark and SurveyMonkey. On top of winning championships and leading corporations, Serena also has started a beautiful family with her husband Alexis Ohanian, co-founder of Reddit. ￼
Of course Oprah in on this list! Outside of running her own empire and partnering with Apple, Oprah is also on the board of Weight Watchers. Back in 2015 she bought a significant stake and received a seat on the board. She still sits on the board today and is rumored to still own 8% which would be approximately $100 million. ￼
Former Speaker of the House Paul Ryan joined the board of Fox Corp (owner of Fox News). You noticed this list is mainly full of athletes and self made individuals. It makes sense why they would be on boards; they are hard working and have help make massive businesses. The through line between politicians and corporations is different though. I’m calling corruption on this one but then again I am a conspiracy theorist.